Quilter has set out its three-year plan to improve diversity and inclusion, building on its initial two-year action plan launched in 2022.
The firm has pledged to focus on fostering the development of employees from underrepresented groups.
This includes using virtual reality training for managers to "enhance cultural competency".
Steven Levin, CEO of Quilter said: "The plan is our blueprint for fostering an environment where each colleague’s unique skills and connections are fully developed. We are committed to infusing our business with diverse perspectives, ensuring innovation at every level.
“Wealth management is about empowering individuals to make important life choices.
"Embracing inclusion and diversity means we believe wealth creation is a right for everyone, regardless of background. I am dedicated to ensuring Quilter continues to advance positively."
Two years on from the initial plan, Levin said the firm had achieved significant progress.
In 2022, Quilter set out to have 80 per cent of all diversity data questions completed. The average response rate now sits at 79 per cent, with questions on ethnicity and religion achieving over 80 per cent response rates.
It has also hit its target to increase the number of women holding top jobs. As of June 2024, 45 per cent of Quilter's senior leadership roles were held by women.
The number of senior roles held by ethnically diverse people has risen to 9 per cent from 2 per cent in 2020.
Five areas included in Quilter's latest plan are:
- Investing in the next generation of talent
- Improving data transparency and disclosure
- Driving inclusive leadership
- Prioritising culture contribution
- Continuing the evolution of recruitment practices, processes and diversity of talent pools.
Tosin James-Odukoya, head of inclusion, diversity and wellbeing, said: “I am proud to be surrounded by colleagues who have answered the call to action to help us gather more complete data and demonstrate our commitment to building an equitable workplace where all can thrive.
"We have focused on collecting data to celebrate the removal of barriers to opportunity and to prevent assumptions being made about the makeup of our business. By creating opportunities for talent from all backgrounds, we not only enrich our workforce but also drive innovation and growth."
Since 2022, an interactive wellbeing guide, a wellbeing library, a toolkit on reasonable adjustments, and menopause and gynaecological health policies have been introduced to support Quilter colleagues.
In the next three years, Quilter will add to this by introducing toolkits focusing on carers, trans and non-binary inclusion, and fertility.
tara.o'connor@ft.com
